USCIS has issued its final rule regarding exercise of its parole authority on a case-by-case basis regarding entrepreneurs of start-up entities who can prove through evidence of substantial and demonstrated potential for rapid business growth and job creation that they would provide a significant benefit to the US. The rule is effective July 17, 2017.
The potential of such a significant benefit to the US could be demonstrated by the receipt of substantial capital investment from US investors with track records of successful investments or being in receipt of significant grants or awards from certain Federal, State or local government agencies. Also, the applicant must show that he or she has a substantial interest in the start-up entity, will play an active and central role in its operations and would substantially advance the entity’s ability to engage in research and development and create new jobs in the US.
Parole can be issued for up to 30 months (that can be extended for an additional 30 months) for the applicant to oversee and grow his or her start-up entity in the US.
The greatest benefit of this rule is that it is not dependent on the existence of a treaty between the US and the applicant’s country of citizenship, like the E-2 treaty investor visa. Foreign nationals from India and China (mainland) have been excluded from the E-2 program because of the absence of such a treaty.